A new Web site from Fifth Third Bancorp lets commercial customers conduct a wide range of transactions under a single sign-on.
Executives at the Cincinnati company say the site, Fifth Third Direct, allows these clients to initiate incoming and outgoing wire transfers, retrieve same-day images of wholesale lockbox transactions, check balances, review and download investment account balances, and conduct international transactions.
It said it wants Fifth Third Direct to cement loyalty, especially among small-business customers of Old Kent Bank, which Fifth Third bought in November.
"Our goal is to have each commercial client using this product" because "we're still sending a lot of paper to customers," said Paul Brunner, Fifth Third's director of treasury management.
Once clients move their banking transactions online, he said, much of their information can be delivered through the portal's image platform. "It means much lower costs for us."
Customers choose an employee to be a "super-user," and that person determines who within the company can access secure data.
The site was launched in late June.